PRPO - Precipio to sell 4.13M shares at $0.45 in direct offering private placement

2023-06-08 08:48:54 ET

• Precipio ( NASDAQ: PRPO ) has entered into securities purchase agreements with certain institutional investors for the purchase and sale of 4.13M shares of the Co.’s common stock and pre-funded warrants to purchase 0.32M shares in a registered direct offering and warrants to purchase up to 8.89M shares of common stock at a combined purchase price of $0.45 in a concurrent private placement.
• The common warrants issued pursuant to the concurrent private placement will have an exercise price of $0.63/share, will be initially exercisable beginning six months following the date of issuance and will expire five years from the initial exercise date.
• The net proceeds from the offering are expected to be ~$2M and will be used for working capital and general corporate purposes.
• The closing of the offering is expected to occur on or about June 12, 2023.

For further details see: